I bought this car because I like the E46, it only had two previous owners, it's a 330, and a 5 speed! It needed some work (see below), but had good bones. After two years and a few thousand miles I think I will stick with my E39, let someone else enjoy the convertible. Below is listed the maintenance issues I have tended to, not to include any cosmetics.
Fuel filter
fuel injectors, cleaned and flow tested
Oil filter canister gasket
intake gaskets
Valve cover, gasket, grommets
oil pan gasket
HEPU water pump
Wahl thermostat
Hoses, expansion tank, coolant pipes, etc
Motor and transmission mounts
Pre cat O2 sensors
Mass airflow sensor
DISA, intake boots, Idle control valve, Air/oil separator, all hoses
Sway bar links and bushings
Struts, mounts, shocks, stops. Bilstein B4
Tie rods, complete
Altenator, power steering pulley

The paint is great at 10 ft, there is a cpl scratches on the hood (right forward) caused by flying shingles says the P.O. The tires aren't fresh but have spent their life out of the sun apparently, no cracks and plenty of tread. Inside the leather is in great shape, the drivers armrest shows some fading. The dash screen is the most obvious flaw, it's discolored, and the volume on the radio is unpredictable but works. Also a in the trim on the drivers door grip, has been stable during my use. The top is great, inside and out, works and looks good.
I have the master key, and a valet key, I think. The working of the trunk and glove box locking system (being a convertible) is beyond me so far, but it eventually works.
Looks good, runs strong, and drives very good, smooth, solid. A very good driver for a discerning enthusiast.